UK Professor Says Gas Price Spike Might Be Short Term

16 September 2019 - Monica Harkins (WTVQ)

After an attack on a Saudi Arabian oil facility this weekend, the price of gas is a concern here in the U.S.

CNN reports, head of petroleum analysis at Gasbuddy, Patrick Dehaan, estimates the hike is a matter of cents. He said people could see prices go up from 10 to 25 cents a gallon in the next few weeks.

ABC 36 talked to Mike Clark, the UK Interim Director of the Center for Business and Economic Research about the seriousness of the attack from a U.S. perspective.

He said there’s a level of uncertainty around the long term impacts.

“We’re starting to hear at this point that some of the supply can be back online fairly quickly, so the price increases may not be very large and may not last very long,” Clark said.